New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-26
THE PETROLEUM MARKET

NEWS FROM TIE FIELD AND RANCE OF PRICES
There is evidence that the petroleum trade is awak
cnng 10 te important work accomplished BY
the ProiEcer rot-c'v" Assoc IN the crta el' OF
product on has FURNISHED basis Tor improvement n the
Irrespective Of speculative considerations t 10
the OF the legitimate character OF the shud'"a
scheme business point Of view which has given such
srengh values IN the clearly fears Of Saxon
burg opposition OF tho foreign buyer and OF The
home faction covering snort contracts made az
prc.s per.ons probably outside OF tho members
oths roiuccrs Association can realize the obstacles when
had 20 tho formation Of the league ant N the
initiation OF its Tor benehtng the Industry IL las
achieved remarkable success within two months AMI there
are 10 Indication. any internal disturbance On Tho con
tiy gaining friends ami 1t IS hart TO be
leve that producers smi or large who have
their business al
heart. but who are not moers OF the
t.n will not ere eng adopt plan for tie common
Tor tie depression oil the trade "a
The on oi supply demand no production was
shut IN tables compiled by The Brad'0Fd Era
August 1891 wen sto ks were at The nigh
est mark there oonsumpto of the visible supply
T. tie extent Of barrels CD October the relc
ton In stocks year aggregated 2o9sj4 barrels These
figures 81 demand since the collapse OF
the great the oil supply Bradford and Allegheny
Counties natural effect Of such relation between
Yield and demand has been largely nulied by
the heavy surplus OF stocks above srouud
Notwithstanding these important reductions Tho
scheme correcting this state Of Affairs by the
wonderfully rapid rate reduction Of stock esaoI shed.
The movement artnoiaI than the curtamen OF
manu- class Of gOo until tho merchandise ac-
shelves has bcca brought to safe reserve
point.
1t has boon popular objection idea Of buying OIL that
mo public in the Such directors a 10
that regardless for the last two months there
has bees a public (rehners and consuners)
who have usco up daily $4,000 barrels of the com
oity than have been TAKEN out OF the ground AoS
II /, public " Ike this which viii. In the absence
OF disruption " the Producers AssClauon eAve al te
81 Ioos f t r Tor any me wh:eh viii
IA INN
or peeualve purposes and w. ca VIZ 80 t, 10
pee y.9 IA ,9o7. u CstI s. Sa1rs m te sene
IN deid' When Novemeers reduction Of i27stsyg9
barrels was Sddel 10 H. the 't'GSs sen e' on DO
s-"s.r oS5 a. e .%.r
h.n rno pt,o limo run, ia 2ec,neer have 50
81 go bsrrS. las. month $3.50 D,eenber. 1885 and
go sa7 S.. Gs' day. ans
Der or barrels Dreomosr loo6 .ni % SO o.Tes n
teSarteS. to tho 25d) inclusive were a. follows.
1:.. ss: y, 2i;,'' I S ;ss '5;''
not ys 4s.nG Ss.oa rs tG%s or
me Of ge@ansny IN, The 5s.s
a.t tie slSsrie. 5000 DArrs.
he .s. 10 o~ AMOUNT sTa Of gI.' are Kept " '
rss o1er te e s.I per s
Of n. We. there some mPer.9. 'Gs
~ ccut. Heavy quidaoes were "ado At 's west an.
~ ss Sf @ s" 81 Sf bears
hr,wn' Kr.uli-a reaction sOS cents toll wed
NV spdrd with the c"-e of business
Such a movement carries VIII IL us own
,omns ont SHOWS th>t new buying element 10 widening
.bsoiO The hOdngs si mere specu
isors courage ~ bay and hold o. Ia lho
seventies requires ia tho CITIES the early Stage
urodicers mainly attended win DOUBT
but il achieved that IN all probability assures
after the years contract expires Ana
the actual % over 100000 barrels ." sece
vi thii seven Just many certihcatr'
warehouse rccrpts) from "Nistenc
mistake he maie BY those ~hs re.ant tho scarcity o
ccrtlncA,s Arncsi large part Of the loans made as
Nrr. haL part OF the renewals we're m~iet
inning Iates paid borrowers and numerous loan. con-
10 81 70 tertlicates
necessarily be esssned with the essenihg OF zoe slo.As
and The statistical stns on grows
srnus viii bo the srea'ef n"e Tor holders 10 e eau
their certificates " acre thew cannon e ava
sIle 10 meet the needs of cotsm me
ffo' ued buiiisiL Disappointing attended
Tie opening crop OF SaAonburg wells ana so lar mere
al srouA ieveioments at Brush trerk E.eh
Il there uct, strike at the latter poia mere Is NJ
lie prDbaby usIurhoG the agreement hetweeh tbe
producers and tho rehners or even OF enrcuns any
bu slight tGpht effect on values ls re- ORD OF
the The shut scheme was raca upon US
has reactions follower Oy pfosrrss
upwsr which ha' disappointed many seSui tor WHO n a
secure "che per OIL hsmarket closed active al about Top
with indication pointing 10 higher auss
nf and the total ds1llug- IN
III a. tha NonsoN'
lad Stack md Petroleum ExchaDge were follows